Focus on OPEC+ leads to tumbling crude oil prices and Oklahoma energy stocks

  • March 30, 2021

 

Up Monday, down Tuesday. It’s what happened to crude oil prices and Oklahoma energy stocks also had a down day.

West Texas Intermediate crude for May deliver fell $1.01 to $60.55 a barrel in Tuesday’s trading on the New York Mercantile Exchange.

Global benchmark Brent crude dropped 84 cents to $64.14 a barrel on ICE Futures Europe.

The slide in crude prices came as the Suez Canal reopened for traffic and the dollar rallied. Focus by investors turned from the canal to an OPEC+ meeting this week where analysts believe there will be an extension to supply curbs to offset dim demand prospects because of COVID-19.

May natural gas rose 3 cents to $2.62 per 1,000 cubic feet.

 Tuesday proved to be another day of losses for most Oklahoma energy stocks.

The biggest loss was 4.41% for NGL Energy Partners as its shares fell 9 cents to finish at $1.95.

Alliance Resource Partners, L.P. fell 7 cents for a 1.24% loss to $5.59.
Blueknight Energy Partners dropped 5 cents to $3.11 and a 1.58% loss.
Chesapeake Energy finished with a 62 cent increase and a 1.46% gain to $43.14.
Cimarex Energy Co finished down 57 cents at $59.87 and a loss of nearly 1%.
Continental Resources closed at $25.98 with an 18 cent increase and a gain of less than 1%.
Cypress Environmental Partners increased one cent to $2.39 and a gain of 0.42%.
Devon Energy closed up 16 cents for a nearly 1% gain to $22.
Enable Midstream Partners finished unchanged at $6.68.
Gulfport Energy had a more than 1% gain to $0.052 cents.
Helmerich & Payne added two cents for a slight gain of 0.073% to $27.45.
LSB Industries, Inc. finished at $4.79 with an 8 cent increase and a 1.70% gain.
Laredo Petroleum lost about 1% on a 29 cent fall to $29.60.
Magellan Midstream Partners lost 1.45% on a 63 cent fall to $42.79.
Mammoth Energy Services Inc dropped one cent for a 0.20% loss to $5.06.
Matrix Service Company closed up 35 cents at $13.12 and a 2.74% gain.
OGE Energy Corp. dropped 32 cents to $32.45 and a loss of about 1%.
ONE Gas Inc fell 24 cents to $76.06 and a loss of 0.31%.
ONEOK Inc. closed down 30 cents at $50.26 and a loss of 0.59%.
Ovintiv Inc. finished with a 2.59% gain on a 61 cent hike to $24.17.
PHX Minerals lost 3.69% on an 11 cent fall to $2.87.
SandRidge Energy Inc. closed down 6 cents at $3.73 and a 1.58% loss.
Unit Corporation finished with a 35 cent increase to $12.55 and a gain of 2.87%.
Williams Companies lost 1.50% on a 36 cent slide to $23.68.
 Other energy stocks had the same kind of down day according to the Texas Energy Report.

Chevron (CVX) down 0.99 at 105.93 – change 0.93%

ConocoPhillips (COP) down 0.41 at 53.43 – change 0.77%

Diamondback Energy (FANG) up 0.24 at 74.48 – change 0.32%

Energy Transfer LP (ET) down 0.06 at 7.76 – change 0.77%

Enterprise Products Partners (EPD) down 0.22 at 22.36 – change 0.98%

EOG Resources (EOG) down 0.38 at 73.26 – change 0.52%

ExxonMobil (XOM) down 0.71 at 56.69 – change 1.24%

Kinder Morgan (KMI) down 0.13 at 16.62 – change 0.78%

Marathon Oil Corp. (MRO) up 0.08 at 10.98 – change 0.73%

National Oilwell Varco (NOV) down 0.19 at 13.66 – change 1.38%

Occidental Petroleum (OXY) up 0.33 at 27.33 – change 1.22%

Phillips 66 (PSX) down 0.22 at 82.31 – change 0.27%

Pioneer Natural Resources (PXD) down 1.11 at 160.62 – change 0.69%

Valero (VLO) down 0.08 at 71.78 – change 0.12%

CLOSING TOP UTILITY STOCKS

American Electric Power (AEP) down 1.12 at 84.73 – change 1.30%

CenterPoint (CNP) up 0.15 at 22.80 – change 0.66%

Entergy (ETR) down 0.50 at 98.66 – change 0.51%

Jerry Bohnen